Canadian housing starts drop sharply in February

PORTLAND, OR, March 12, 2019 (RISI) -The seasonally adjusted annual rate (SAAR) of Canadian housing starts in February dropped sharply to 173,153 units, down 16.3% from 206,809 units in January, according to Canada Mortgage and Housing Corporation (CMHC). The SAAR of urban starts decreased by 18.0% in February to 155,663 units. Multiple urban starts decreased by 20.2% to 116,284 units in February while single-detached urban starts decreased by 10.6% to 39,379 units.

The trend in housing starts was 203,554 units in February compared to 207,742 units in January. This trend measure is a six-month moving average of the monthly seasonally adjusted ...